What kind of house would 2,000,000 baht buy/build me in one of the central provinces

**Bung** · 03-12-2006, 02:03 PM

There are some good deals on land in Khao Kho. It is in the hills outside of Petchabun, really nice spot, cool and quiet some blocks (like mine)with fantastic views. Most new homes have chimneys so yeah, it gets cold but I like that.

It's a popular spot with Bangkokians as it's the first nice hilly area you come to north. lots of resorts and restaurants and although no bars / farang nightlife. (or work).

It is changing a lot now from cheap farmland to expensive plots so I can't see it lasting. w
Has the potential for farang tourism but Petchabun airport is closed.

Get in quick fellas.

**Silent Ninja** · 15-12-2006, 04:22 PM

Chimneys... how cold does it get?

**ceburat** · 15-12-2006, 10:48 PM

Originally Posted by MeMock

How much more (or less) value for money would one get building where mad dog said and near the laos/cambodia/thai border?

I think you are referring to Ubon Ratchathani Province which is the only province I know that touches both laos/cambodia. The Amphoe within Ubon Ratchathani Province which touches both laos/cambodia is Nam Yuen. I think this province is one of the most beautiful provinces in Thailand. As to cost, I am not sure for all of the province. In the northern part of the province I have been quoted 10,000 to 20,000 bhat per rai for marginal and upward to 100,000 bhat for good land. All along the river is beautiful. Be warned, streets are rolled up when the sun sets and it is quite there. Just another reason to love it.

**dirtydog** · 16-12-2006, 03:21 AM

Originally Posted by Silent Ninja

Chimneys... how cold does it get?

we get a couple of cold weeks per year here in pattaya, it would be great to have an open fire in the house

**paulsmithson** · 27-05-2007, 11:42 PM

anything on the burmese border is dead dogey----bandits come over the border occasionally and kil and kidnap even thai soldiers.

similar to living in Rhodesia I think---bank repos are very very cheap there.

if you live there you need a gun ---and i do not mean a hand gun

**WhiteLotusLane** · 28-05-2007, 05:09 PM

Originally Posted by Begbie

The deal here is that the houses are worth nothing, the value is in the land. So all those folk who buy a 3mill baht house on 50 wah are fooling themselves. The reason I think is that there is no developed second hand house market. Anyone with a bit of cash buys new.

Well, yes and no. Even if you believe that a house is worthless, and consequently look at buying just land to build something, then you WILL find yourself in the position of having to spend MORE on building a house (plus your time mothering over everything like a hen over eggs) than buying an existing house where you know what you're going to get.

I've stared at 3 million baht houses, which I considered expensive. One that comes to mind is a rather nice looking one, on over half a rai of land (so 2-3 times more than usual) inside a compound.

This is it: Land and house for sale - Property 513 - House for sale in Sansai Chiang Mai - Jasmine Homes Co Ltd - Chiang Mai Homes

Land would be at LEAST 8000 baht per tarang wa inside a compound not too far from town. (Outside a compound it's much cheaper of course) But 212 sq. wa x 8000 = 1.7 million. They want close to 3 million for it, so the house then costs 1.25 million.

So then you find yourself scratching your head thinking: "Could I build that for 1.25 million?" And the answer, most likely, is 'No'. Never mind the time and aggro involved in getting it done properly.

So don't dismiss existing houses that you like the look/location of, but realistically look at the cost / value of the land and the house separately.

**buad hai** · 28-05-2007, 05:35 PM

Originally Posted by Begbie

Anyone with a bit of cash buys new.

I'm not sure what you mean by "a bit of cash", but there certainly is a second hand house market in the crappy little moo baan where I live now. In the two years that I've been here I've seen quite a few houses bought, renovated and resold. In fact, the lady who runs the mini-mart near us does that as a side business and claims she makes good money from doing it. I think at any one time she has four or five houses that she's fixing up to resell.

I think the stigma that was once attached to buying second hand is disappearing; at least in this neck of the woods.

**corvettelover** · 28-05-2007, 05:45 PM

Originally Posted by Thetyim

Originally Posted by mad_dog

Now that is a nice little house . Why does that cost less than a plot of land????

They are all reposessions.
The bank wants to recover the amount loaned + interest.
Anything over that amount is given back to the ex-owner.
Bottom line is that the banks don't give a fok how much the house is sold for as long as they get their money back.

I've done it and so has Itchy.
You can get a good deal but it takes time and perseverance

Can you find the link for the repo homes via the bank??

**DrAndy** · 28-05-2007, 05:46 PM

That is fairly common, I have met three people recently doing just that

I had not realised there was a stigma attached to 2nd hand houses! maybe in a lot of Thailand, most 2nd hand houses are in a very poor condition? poor maintenance mostly, and some dodgy building practices

**DrAndy** · 28-05-2007, 05:48 PM

Originally Posted by corvettelover

Originally Posted by Thetyim

Originally Posted by mad_dog

Now that is a nice little house . Why does that cost less than a plot of land????

They are all reposessions.
The bank wants to recover the amount loaned + interest.
Anything over that amount is given back to the ex-owner.
Bottom line is that the banks don't give a fok how much the house is sold for as long as they get their money back.

I've done it and so has Itchy.
You can get a good deal but it takes time and perseverance

Can you find the link for the repo homes via the bank??

yep, we bought a commercial building through the bank.

all the banks have lots of repos, just ask at each bank, they have books of auction properties

**WhiteLotusLane** · 29-05-2007, 09:15 AM

The only challenge with that is that a lot of the bank staff are pretty expert at this, too, and would snap up the best deals for themselves or favoured parties... So befriending people at a bank (or at least establish somewhat of a relationship that includes a finder's fee) would be advantageous.

**qwerty** · 31-05-2007, 11:38 AM

Another problem with the Bank Repo's is that Thailand has very strong 'squatters' rights. If the previous owner is still living in the house, getting them out can be a real problem. It can take months of legal squabbling and finally a fairly substantial bribe or some kind of settlement payment to get them to move on.

Then, of course, once you've shivvied them along, you'd better hope that they weren't popular with the neighbors!

That's one reason that empty repossessed land can be cheaper than repossessed land with a house.

**AntRobertson** · 31-05-2007, 02:38 PM

WhiteLoutsLane and qwerty both make excellent points.

That was our experience when we looked at purchasing repo land/houses via the banks.

What hadn't already been cherry-picked by the bank staff was a potential legal headache in trying to remove the exisiting 'tenants'.

So unless, as WWL points out, you have an 'inside line' with the bank it's probably more trouble that it is worth unless you're willing to be exceptionally persistent and have a bit of luck.

**DrAndy** · 31-05-2007, 06:53 PM

Originally Posted by qwerty

Another problem with the Bank Repo's is that Thailand has very strong 'squatters' rights. If the previous owner is still living in the house, getting them out can be a real problem. It can take months of legal squabbling and finally a fairly substantial bribe or some kind of settlement payment to get them to move on.

Then, of course, once you've shivvied them along, you'd better hope that they weren't popular with the neighbors!

That's one reason that empty repossessed land can be cheaper than repossessed land with a house.

the bank we dealt with showed us a couple of properties that were still partially occupied; they were not going to put them on the market until the legal proceedings to remove their stuff was complete

the one we bought had nobody inside, or any possesions etc and was clear

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